Wednesday, January 25, 2017

Bermuda-based totally PartnerRe Ltd. mentioned net earnings
of $231.7 million, or $four.76 in line with percentage for the primary zone of
2015. The figure includes net after-tax realized and unrealized gains on
investments of $a hundred.three million, or $2.06 according to percentage.

by using comparison net income for the first sector of 2014
become $295.7 million, or $five.sixty one in step with share, consisting of
internet after-tax found out and unrealized profits on investments of $115.8
million, or $2.20 in line with share.

The enterprise said operating income of $150.5 million, or
$3.09 per proportion, for the first region of 2015, as compared to $176.nine
million, or $3.36 in step with share, for the primary zone of 2014.

The assertion explained that running profits or loss
“excludes sure internet after-tax realized and unrealized investment profits
and losses, net after-tax foreign exchange gains and losses, sure net after-tax
interest in effects of fairness technique investments, the loss on redemption
of preferred shares and certain internet after-tax withholding tax on
inter-company dividends (covered in other costs), and is calculated after the
payment of favored dividends. All references to consistent with percentage
amounts within the text of this press launch are on a completely diluted
foundation.”

PartnerRe interim CEO David Zwiener commented: “We had a
stable begin to 2015. notwithstanding persisted strain throughout all
reinsurance lines, our operating performance within the first quarter was
characterised with the aid of excellent underlying technical effects and
blanketed a scarcity of essential catastrophes and persisted favorable reserve
improvement, ensuing in a nine.8 percent working ROE.

“This, combined with sturdy consequences in our funding
portfolio, generated tangible e-book value in line with percentage increase of
3.2 percentage. these effects truely reveal our extremely good execution
competencies and the energy of the PartnerRe franchise.”

PartnerRe indexed the subsequent “highlights for operations
inside the first area of 2015 in comparison to the equal period in 2014,” as
follows:

— net charges written of $1.7 billion had been down five
percentage. On a regular foreign exchange foundation, internet charges written
had been up 1 percent driven with the aid of the lifestyles and fitness phase
and modest will increase within the disaster and worldwide (Non-U.S.) percent
Non-existence sub-segments. these will increase have been nearly absolutely
offset by using a decrease in the North the united states Non-lifestyles
sub-segment.

— internet charges earned of $1.2 billion had been down 2
percent. On a regular foreign exchange basis, internet rates earned had been up
3 percent in most cases due to the lifestyles and health segment and the
incomes of commercial enterprise written in previous durations in the global
distinctiveness Non-lifestyles sub-section. these increases had been partly
offset by means of a decrease within the North america Non-existence sub-phase.